Market Update

Market Watch

Wednesday, 4 May 2016

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Gold nursed losses on Wednesday, holding below a 15-month high as the dollar firmed after two Federal Reserve officials talked up US interest rate hikes this year.
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Spot gold was little changed at USD 1,285.19 an ounce by 0033 GMT, after dropping 0.4 percent in the previous session.
 
Gold prices have gained 21 percent since the start of the year on the outlook that the Fed has slowed its expected pace of rate increases. 

Bullion is sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion.
 
Bullion is sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.
          PRICES AT 0029 GMT
 Metal                   Last                  Change          Pct chg
                                            
 Spot gold           1292.9               -0.46               -0.04
 Spot silver          17.78                 -0.04                -0.22
 Spot platinum      1071.99           -2.51               -0.23
 Spot palladium      622.47          -2.03               -0.33
 Comex gold          1295.4            4.9                   0.38
 Comex silver        17.845            0.026             0.15
                                            
 COMEX gold and silver contracts show the most active months.

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